Bitcoin price capitulation below $26K possible as Friday’s BTC options expiry looms By Cointelegraph

Bitcoin’s price lost steam after a failed rupture of the $27,500 resistance on May 15, putting bears in a better position for the May 19 expiry. The regulatory newsflow likely played a key role in trimming investors’ risk appetite, as governments seek more control over the sector.

In a memo circulated among committee members, Democrats in the United States legislature sought to cement the Securities and Exchange Committee’s (SEC’s) authority over crypto. The document was made public on May 10 and included the argument that nearly all digital assets constitute securities. Moreover, according to SEC Chairman Gary Gensler’s view, even network nodes are in violation of securities laws.